NZD/JPY –Breakout opportunity

Aug 08, 2023

Note: NZD Inflation Expectations tonight on NZD
Bearish: We are currently @ 86.45 in a rectangle in a range. If we can break the support here we are looking for a continuation to the ATR target @ 85.80 with the overall target the 1.270 Fibo @ 85.70. Watch the USDX for direction. The average daily true range (ATR) for the pair is 112 pips per day and it’s 90 day average is 92 pips per day. USDX is currently moving up.